The Global Eyeglasses Market is Projected to Reach 5.7 Billion Units by 2024

Increasing Incidence of Vision Problems Drives Growth in the Global Eyeglasses Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Eyeglasses market. The global Eyeglasses market is projected to reach 5.7 billion units by 2024, driven by the rapidly growing incidence of vision disorders across the world, and the need for eyeglasses to correct such impairments. Eyeglasses market is also being driven by the growing demand for fashion eyewear products.

Vision disorders represent a major cause of concern, with more than half of the global population known to suffer from some form of visual impairment. Eyewear products such as spectacles, sunglasses and lenses have become essential for vision correction purposes and also to offer protection to eyes against harmful radiations, intense light and debris. Burgeoning population, coupled with the rising incidence and prevalence of visual disorders such as myopia, hyperopia, presbyopia and astigmatism, are the primary underlying factors fueling the expansion of the global eyeglasses market. Global customer base for eyeglasses market continues to grow, propelled by the increasing penetration of eyewear among the population and the growing acceptance of both prescription and fashion eyewear products.

The world’s aging population is one of the most dynamic demographic factors for the eyeglasses market, with a growing section of the elderly population in need of visual refractive correction. The adoption of eyeglasses among children and young adults is also growing due to the increasing sedentary lifestyle, early and increased exposure to television, computers and portable devices with electronic displays giving rise to increasing incidences of eye health problems. Despite the growing use of contact lenses, the introduction of fashionable eyeglass frames and lens designs, concerns about safety of contact lenses, and the relative affordability and longevity of eyeglasses are sustaining growth in the eyeglasses market.

Sunglasses, the largest category in the eyeglasses market, is fostered by the launch of innovative products and technologically advanced designs with improved functionality. With incomes of people increasing steadily and standards of living improving, consumers are showing affinity for such advanced sunglasses. The growth in the sunglasses market is also benefiting from the growing demand for tinted sunglasses. Plano sunglasses are popular, due to the rising awareness among consumers about protecting eyes against harmful radiation. Rapidly changing lifestyles, growing demand for fashionable sunglasses and the introduction of highly advanced products in urban locations are fostering demand for plano sunglasses. Increasing purchasing power of people also favors growth in the plano sunglasses market.

As stated by the new market research report on Eyeglasses, Asia-Pacific represents the largest market worldwide. Emerging economies such as China and India with high population density and increasing eyewear penetration are prime growth driving factors in the region, in addition to rising incidence of vision problems and aging population. 

Major players in the market include Carl Zeiss AG, De Rigo S.p.A., Essilor International S.A., Hoya Corporation, Indo Optical S.L.U., Luxottica Group S.p.A., Oakley Inc., Safilo Group S.p.A., and TEK Optical Canada, among others.

The research report titled “Eyeglasses: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.

The report analyzes the Eyeglasses market by the following Product Group/Segment – Lenses (Glass Lenses, Plastic Lenses and MHI & Polycarbonate), Frames (Metal and Plastic) and Sunglasses (Premium-Priced and Popular-Priced). The market for Lenses is further analyzed in volume terms for Single Vision, Bifocal and Progressive Addition Lenses.

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